Mar 30, 2016 - Mr. Zhou graduated with an EMBA from the Tsinghua University and is the vice chairman of Mianyang Zhejian
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
BOARD CHANGES The board of directors of Beijing Enterprises Water Group Limited announces the following changes all effective from 30 March 2016: (1) Mr. Hu Xiaoyong has resigned as an executive director and the chief executive officer of
the Company and has been appointed as the honorary chairman of the Company; (2) Mr. Zhou Min, an executive director of the Company, has been appointed as an executive
director and the chief executive officer of the Company; and (3) Mr. Li Li, an executive director of the Company, has been appointed as an executive
director and the chief operating officer of the Company
The board (the “Board”) of directors (the “Directors”) of Beijing Enterprises Water Group Limited (the “Company”) announces the following changes all effective from 30 March 2016: (1)
RESIGNATION OF AN EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER Mr. Hu Xiaoyong ("Mr. Hu") has resigned as an executive director and the Chief Executive Officer of the Company due to the reallocation of duties and responsibilities. He has been appointed honorary chairman of the Company, and is responsible for the Company's strategic planning and development of corporate culture. Mr. Hu also concentrates his time and effort on the business development of Beijing Enterprises Clean Energy Group Limited (stock code: 1250), an associates of the Company. Mr. Hu has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. During the past 8 years’ tenure with the Company, Mr. Hu, being as the chief executive officer of the Company, has contributed to the business development and expansion of the Company. Under his professional leadership, the Company has been recognized as one of the market leaders in the environmental protection industry in China. The Board would like to take this opportunity to express its sincere gratitude to Mr. Hu for his valuable contributions to the Company during his tenure of office. -1-
(2)
APPOINTMENT OF AN EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER The Board announces that Mr. Zhou Min (“Mr. Zhou”), an executive director of the Company, has been appointed as the chief executive officer of the Company with effect from 30 March 2016. Mr. Zhou, aged 52, was appointed as an executive director of the Company in August 2008. Mr. Zhou graduated with an EMBA from the Tsinghua University and is the vice chairman of Mianyang Zhejiang Chamber of Commerce (綿陽市浙江商會). Mr. Zhou previously worked in the People’s Bank of China, Yongkang Branch of Zhejiang Province (浙江省人 民銀行永康支行), the Industrial and Commercial Bank of China, Yongkang Branch of Zhejiang Province ( 浙 江 省 工 商 銀 行 永 康 支 行 ), and was the chairman of Beijing Jingsheng Investment Company Limited (北京景盛投資有限公司). Mr. Zhou is now the chairman of BEWG Environmental Group Co., Ltd. Save as disclosed herein, Mr. Zhou holds no other directorships in listed public companies in the last three years preceding the date of this announcement. Save as disclosed herein and as at the date of this announcement, Mr. Zhou does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company as defined in the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”). As at the date of this announcement, Mr. Zhou has personal interest in 400,000 shares of the Company, the personal interests in 56,000,000 underlying shares in respect of share options granted, and corporate interest in 307,676,110 shares through Tenson Investment Limited (“Tenson”). Mr. Zhou has also corporate interest in 475,014,040 ordinary shares and 1,121,061,910 convertible preference shares of Beijing Enterprises Clean Energy Group Limited through Tenson. Tenson is wholly and beneficially owned by Mr. Zhou. Save as disclosed herein and as at the date of this announcement, Mr. Zhou does not hold any shares, underlying shares or debenture of the Company and/or its associated corporation within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Pursuant to Mr. Zhou’s letter of appointment, his term of office is three years and subject to retirement by rotation and being eligible for re-election at annual general meetings of the Company in accordance with the Bye-laws of the Company. The director’s fee for Mr. Zhou is to be determined by the Board with reference to the prevailing market rate, the Company’s remuneration policy, his duties and responsibilities with the Company and his contribution to the Group. The total amount of remuneration paid by the Company to Mr. Zhou for the year ended 31 December 2015 was HK$4,222,546. The Board is not aware of any other matter in relation to the appointment of chief executive officer that needs to be brought to the attention of the shareholders of the Company and does not have any information which is required to be disclosed under Rules 13.51(2)(h) to (v) of the Listing Rules. -2-
(3)
APPOINTMENT OF AN EXECUTIVE DIRECTOR AND CHIEF OPERATING OFFICER The Board announces that Mr. Li Li (“Mr. Li”), an executive director of the Company, has been appointed as an executive director and the chief operating officer of the Company with effect from 30 March 2016. Mr. Li, aged 50, was appointed as an executive director of the Company in February 2014, he is a Senior Engineer and qualified Senior Project Manager. Mr. Li joined the Company in October 2010 and is currently an executive vice president of the Company. Mr. Li graduated from Xian Jiaotong University in mechanical engineering and is currently undertaking PhD study in engineering at School of Environment, Tsinghua University. Prior to joining the Company, Mr. Li was a senior engineer, a technical quality director and vice president of the First Design & Research Institute. Mr. Li served as various key positions of 北京桑德環保集團有限公司 (Beijing Sound Environmental Group Company Limited*) from 2001 to 2010. He has extensive experience in investment, construction and operation in water industry. Save as disclosed herein, Mr. Li holds no other directorships in listed public companies in the last three years preceding the date of this announcement. Save as disclosed herein and as at the date of this announcement, Mr. Li does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company as defined in the Listing Rules. As at the date of this announcement, Mr. Li has personal interests in 19,200,000 underlying shares of the Company in respect of share options granted. Save as disclosed herein and as at the date of this announcement, Mr. Li does not hold any shares, underlying shares or debenture of the Company and/or its associated corporation within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Pursuant to Mr. Li’s letter of appointment, his term of office is three years and subject to retirement by rotation and being eligible for re-election at annual general meetings of the Company in accordance with the Bye-laws of the Company. The director’s fee for Mr. Li is to be determined by the Board with reference to the prevailing market rate, the Company’s remuneration policy, his duties and responsibilities with the Group and his contribution to the Group. The total amount of remuneration paid by the Company to Mr. Li for the year ended 31 December 2015 was HK$2,265,683. The Board is not aware of any other matter in relation to the appointment of chief operating officer that needs to be brought to the attention of the shareholders of the Company and does not have any information which is required to be disclosed under Rules 13.51(2)(h) to (v) of the Listing Rules.
On Behalf of the Board Beijing Enterprises Water Group Limited Li Yongcheng Chairman -3-
Hong Kong, 30 March 2016 As at the date of this announcement, the board of directors of the Company comprises ten executive directors, namely Mr. Li Yongcheng (Chairman), Mr. E Meng (Vice Chairman), Mr. Jiang Xinhao, Mr. Zhou Min (Chief Executive Officer), Mr. Li Haifeng, Mr. Zhang Tiefu, Ms. Qi Xiaohong, Mr. Ke Jian, Mr. Tung Woon Cheung Eric and Mr. Li Li and six independent non-executive directors, namely Mr. Shea Chun Lok Quadrant, Mr. Zhang Gaobo, Mr. Guo Rui, Ms. Hang Shijun, Mr. Wang Kaijun and Mr. Yu Ning.
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